· Fresh issue of Equity Shares aggregating to Rs.4,000 million
· The minimum Bid lot is 45equity shares and in multiples of 45equity shares thereafter
· Issue opening date – June 29, 2016 and Issue closing date – July 1, 2016
The Company proposes to utilize the net proceeds of the Issue for repayment of debt availed by the Company; funding capital expenditure requirements of the Company and its Subsidiary, MFXchange US, Inc.; funding incremental working capital requirement of the Company; acquisitions and other strategic initiatives and general corporate purposes.
The Issue is being made through the Book Building Process wherein at least 75% of the Issue shall be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (“QIB Category”), provided that Quess Corp Limited may, in consultation with the BRLMs, allocate up to 60% of the QIB Category to Anchor Investors on a discretionary basis in accordance with the SEBI Regulations (“Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. Further, 5% of the QIB Category (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis only to Mutual Funds, and the remainder of the QIB Category shall be available for allocation on a proportionate basis to all QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Issue Price.
Further, not more than 15% of the Issue shall be available for allocation on a proportionate basis to Non-Institutional Investors and not more than 10% of the Issue shall be available for allocation to Retail Individual Investors in accordance with the SEBI Regulations, subject to valid Bids being received at or above the Issue Price. All potential Bidders (except Anchor Investors) are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process providing details of their respective ASBA accounts in which the corresponding Bid Amounts will be blocked by the SCSBs. Anchor Investors are not permitted to participate in the Issue through the ASBA process.
Axis Capital Limited, ICICI Securities Limited, IIFL Holdings Limited and YES Securities (India) Limited are the Book Running Lead Managers (“BRLMs”) to the Issue. The Registrar to the Issue is Link Intime India Private Limited.
The shares of Quess Corp Limited are proposed to be listed on the NSE and BSE.